I know that that is a wide-open question because like counseling there is a whole spectrum from having no education/experience and just calling yourself an advisor to fully certified working for a respected company.
Here’s what I want to do, I’m looking to transition out of teaching (or maybe do it as a sidegig) and help people with retirement planning. Specifically those with pensions, teachers, govt workers, etc… How would I start to get a job in that field?
Caveat: I work at a University in a financial planning professional program so I am biased toward official education.
I would try to find either a certificate or Master’s program that will help you sit for the Certified Financial Planner certification. There are a few online programs if that is what you prefer. This way you get the basics and up-to-date tax information. Any decent program will have a strong career placement part of the program. CFP, AFCPE, FPA are all good national organizations that may help you with research about the profession. If you have any questions about this, please let me know.
Things to watch out for: There are some major corporate financial planning firms that will hire just about anyone, but they focus on call-centre type/heavy sales financial planning. You get like 15 minutes a call with a client and it’s a hard sell for life insurance. These places are miserable places to work. Primerica is a Multi Level Marketing scheme and should be avoided.
^This
This website and blog is by CFPs for CFPs:
There is certainly useful financial advice in there for ordinary consumer / investor schlubs like me.
But he’s got a lot more on practice management, how to do the job, the ever changing regulations, etc. If you wanted to get steeped in the reality of doing the job and the regulatory and employment issues, starting to read him seems like an excellent launching pad. He also writes well.
Funny you should ask - I just quit my job of 7 years yesterday where I was a financial advisor, specifically helping teachers with their retirement plans.
I’d call up your local school corporations, and find out who their plan providers are for their 403b accounts. In my state (Indiana), most schools have multiple providers. In most other states, it’s my understanding that it’s usually just one.
Then call up those companies and see if they’re hiring. You’ll start out at an entry-level until you are licensed. Minimum you’ll need a Series 6 and 63. Ideally you’ll have a Series 7 and 66. This could take 3-6 months.
Getting a CFP is certainly good advice. But you can’t sit for it without the underlying licensing requirements, or being associated with a broker-dealer. Additionally, no school is going to let you near them without working for one of the 403b providers.